Monthly Archives: June 2020

CFPB Issues Interpretive Rule on Method for Determining Underserved Areas

On June 23rd, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year. issued Tuesday.  The guidance is necessary, the CFPB said, because [...]

June 25th, 2020|

Borrower Experience in the Loss Mitigation Process

Note: This is a cross-post from Person to Person Quality, a division of ADI Consulting. Download This Article The era of COVID-19 has created unprecedented short-term disruption in the lives of millions of individuals and families. Record-high unemployment, reduced work hours, and rising costs have affected millions of people. For many households, these events create [...]

June 24th, 2020|

Compliance in the Era of COVID-19: Managing Risk While Meeting Consumer Needs

Lending institutions play a unique and vital role in helping consumers and businesses recover from heavy economic hardships during the COVID-19 pandemic. Businesses are affected by the pandemic in differing ways:  for some it means a slight reprieve in activity and possible opportunity to implement system improvements. For lenders, however, it often necessitates rapidly processing [...]

June 1st, 2020|